Senate Confirms Yuguda as CBN Dep Gov …hails appointment

By Musa Baba Adamu

The Senate has confirmed the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), describing him as a “square peg in a square hole.”

The confirmation followed the consideration of a report by the Senate Committee on Banking, Insurance and Other Financial Institutions, chaired by Adetokunbo Abiru. Presenting the report, Abiru said Yuguda demonstrated strong expertise in financial and monetary matters during his screening and was well qualified in line with provisions of the CBN Act.

He noted that no petitions were received against the nominee and urged the Senate to approve the appointment.

The motion for confirmation was seconded by Danjuma Goje, who commended Bola Tinubu for what he described as a sound nomination.

The Senate President, Godswill Akpabio, subsequently put the motion to a voice vote, with lawmakers overwhelmingly endorsing the appointment.

In his remarks, Akpabio praised Yuguda’s suitability for the role and commended the President for the choice.

Earlier, during the screening process, Yuguda was granted the Senate’s customary “take a bow and go” privilege, following a motion moved by Osita Izunaso and seconded by Sarafadeen Alli.

Izunaso argued that Yuguda was already well known to the committee, having been screened multiple times for key roles, including Director-General of the Securities and Exchange Commission Nigeria and membership of the CBN’s monetary policy framework.

He added that his previous engagements with Yuguda confirmed his competence and suitability for the new role.